Litecoin (LTC) Price Analysis: Showing a Flat Action but Stooped Below $90 Mark Again

 Litecoin (LTC) Price Analysis: Showing a Flat Action but Stooped Below $90 Mark Again

Meta Data: Avoid the crypto in the short term. As of now, the movement is crypto is flat. However, will give a good return in the long run.

According to a recent popularity survey by Coinbase, one of the biggest currency exchange platform, Litecoin is at 3rd place in the popularity chart, just below Bitcoin and Ethereum.

Current Statistics (On July 29, at UTC 10:53):

  • The price of Litecoin (LTC) against USD was around $89.226.
  • Against Bitcoin, the crypto was valued at 0.00939087 BTC per chip.
  • With an ROI of 1,971.28%, the current market rank of Litecoin (LTC) is 4th in the crypto chart.
  • Additionally, the market cap of the coin was 5,599,544,332 USD.
  • On top of that, the last 24-hour trading volume of the altcoin is 2,579,890,358 USD.
  • Again, a total of 62,872,693 LTC chips were circulating in the market, at the time of writing.

Comparison:

On July 04, Litecoin (LTC) was trading at 125.068 USD. Nevertheless, 25-days later today, the altcoin is trading with a decline of 28.67%. Similarly, in weekly trading, the crypto has shown a decline of 5.67% from the level of $94.673 on July 23. However, Litecoin was a bit stable in yesterday’s trading. With a marginal strengthening of 0.99%, the crypto wrapped the trading on the other day at 89.77 USD, whereas it opened the day at 88.89 USD.

Prediction:

Litecoin again went below the $90 mark, however, this time the whole crypto space is bearish. There is no doubt that the return in the crypto, in the long term, will be bullish. Additionally, as per our analysis, the coin will trade around $150 by the end of 2019. As of now, the immediate support for the crypto is at 86.61 USD. Additionally, the resistance for the altcoin is at 91.67 USD.

Conclusion:

Litecoin is a strange coin in all together. And that’s because there were a number of times that someone has predicted that the crypto are extinct now and it has resurrected back strongly. At present, when most of the cryptos is facing a difficult time, Litecoin has maintained its strength and is trading at a stable pace. Although the short term is bearish in crypto, one should expect a good return from crypto in the long run.

Morgan Harris

Morgan Harris got into Litecoin back in 2014, but his interest quickly expanded to everything Litecoin-related. He's particularly excited about real-world applications of blockchain technology. Having worked as a professional content writer for three years on blockchain-centered projects and hasn't looked back ever since.

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